177.0702 Disposal of securities.
(1) Unless the administrator determines that it is in the best interest of this state to do otherwise, the administrator shall hold all securities for at least one year before selling them.
(2) The administrator may not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The administrator may sell a security not listed on an established exchange by any commercially-reasonable method.
History: 2021 a. 87.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 177 - Uniform unclaimed property act.
177.015 - Inapplicability to foreign transactions and other exemptions.
177.0201 - When property presumed abandoned.
177.0202 - When tax-deferred retirement account presumed abandoned.
177.0203 - When other tax-deferred account presumed abandoned.
177.0204 - When custodial account for a minor presumed abandoned.
177.0205 - When contents of safe deposit box presumed abandoned.
177.0206 - When U.S. savings bonds presumed abandoned.
177.0207 - When security presumed abandoned.
177.0208 - When related property presumed abandoned.
177.0209 - Proceeds from sale of property in self-service storage facility.
177.0210 - Indication of apparent owner interest in property.
177.0211 - Knowledge of death of insured or annuitant.
177.0212 - Deposit account for proceeds of insurance policy or annuity contract.
177.0213 - Property held by agents and fiduciaries.
177.0214 - Distributions by certain insurance company activities.
177.0215 - Refunds held by business associations.
177.0301 - Address of apparent owner to establish priority.
177.0302 - Address of apparent owner in this state.
177.0303 - If records show multiple addresses of apparent owner.
177.0304 - Holder domiciled in this state.
177.0305 - Custody if transaction took place in this state.
177.0306 - Traveler's check, money order, or similar instrument.
177.0308 - Hazardous or dangerous items found in safe deposit box.
177.0401 - Report required by holder.
177.0403 - When report to be filed.
177.0404 - Retention of records by holder.
177.0405 - Property reportable and payable or deliverable absent owner demand.
177.0406 - Negative reporting.
177.0501 - Notice to apparent owner by holder.
177.0502 - Contents of notice by holder.
177.0503 - Notice by administrator.
177.0504 - Cooperation among state officers and agencies to locate apparent owners.
177.0505 - Tax return identification of apparent owners.
177.0601 - Definition of good faith.
177.0603 - Payment or delivery of property to administrator.
177.0604 - Effect of payment or delivery of property to administrator.
177.0605 - Recovery of property by holder from administrator.
177.0606 - Property removed from safe deposit box.
177.0607 - Income, interest, or gain while in the administrator's custody.
177.0608 - Administrator's options as to custody.
177.0609 - Disposition of property having no substantial value; immunity from liability.
177.0610 - Periods of limitation and repose.
177.0701 - Public sale of property.
177.0702 - Disposal of securities.
177.0703 - Purchaser owns property after sale.
177.0704 - Military medal or decoration.
177.0801 - Deposit of funds by administrator.
177.0802 - Administrator to retain records of property.
177.0901 - Claim of another state to recover property.
177.0902 - When property subject to recovery by another state.
177.0903 - Claim for property by person claiming to be owner.
177.0904 - When administrator must honor claim for property.
177.0905 - Allowance of claim for property.
177.0906 - Action by person whose claim is denied.
177.0907 - Claim to recover abandoned U.S. savings bond.
177.1001 - Verified report of property.
177.1002 - Requests for reports and examination of records.
177.1003 - Records obtained in examination.
177.1004 - Failure of person to maintain records.
177.1005 - Administrator's contract with another to conduct examination.
177.1101 - Default assessment.
177.1102 - Notice of assessment.
177.1103 - Appeal of assessment.
177.1202 - Interstate and international agreement; cooperation.
177.1203 - Action involving another state or foreign country.
177.1205 - Waiver of penalties.
177.1206 - Recovery of property paid to incorrect claimant.
177.1301 - When agreement to locate property enforceable.
177.1302 - When agreement to locate property void.
177.1401 - Definitions; applicability.
177.1402 - Confidential information.
177.1403 - When confidential information may be disclosed.
177.1501 - Uniformity of application and construction.
177.1502 - Effect of new provisions; clarification of application.
177.1503 - Escheat of property to municipalities.